J.P. Morgan Believes United Parcel (NYSE: UPS) Won’t Stop Here

By Austin Angelo

In a report released today, Brian Ossenbeck from J.P. Morgan upgraded United Parcel (UPSResearch Report) to Buy, with a price target of $243.00. The company’s shares closed last Friday at $203.20, close to its 52-week high of $219.59.

According to TipRanks.com, Ossenbeck is a 5-star analyst with an average return of 28.3% and a 70.7% success rate. Ossenbeck covers the Industrial Goods sector, focusing on stocks such as Kansas City Southern, Norfolk Southern, and Union Pacific.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for United Parcel with a $220.39 average price target, implying an 8.2% upside from current levels. In a report issued on June 4, Raymond James also maintained a Buy rating on the stock with a $240.00 price target.

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The company has a one-year high of $219.59 and a one-year low of $99.59. Currently, United Parcel has an average volume of 3.6M.

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Founded in 1907, Georgia-based United Parcel Service, Inc. is the world’s largest package delivery company and a leading provider of global supply chain management solutions. The company also operates one of the largest airlines in the world and has the world’s largest fleet of alternative-powered vehicles. The company operates through three segments: U.S. Domestic Package, International Package, and Supply Chain and Freight.